Canadian Western Bank Group (TSX: CWB)(CWB Group or CWB) today completed its previously announced acquisition of the business of Maxium Financial Services Inc. and Desante Financial Services Inc., now collectively represented as CWB Maxium Financial Inc. (CWB Maxium).
CWB Maxium provides loans, equipment leases and structured financing solutions to more than 35,000 clients, with the majority of business sourced in Ontario. Specialized financing solutions are primarily provided in areas of healthcare, golf, transportation, real estate, and general corporate financing. The addition of CWB Maxium to the CWB Group immediately enhances capabilities and capacity to accelerate the expansion of CWB’s geographic footprint. It will also broaden CWB’s business mix within desired specialized finance markets while providing new cross-selling opportunities. The combination of CWB Maxium’s strong originations, yields and credit performance with CWB’s position as a Schedule 1 bank is expected to provide significant synergies over time.
CWB will release its first quarter 2016 financial results, including Management’s Discussion and Analysis, on March 3, 2016. CWB’s quarterly conference call and live audio webcast will take place on March 3, 2016 at 1:30 p.m. ET (11:30 a.m. MT). Related details are available in the webcasts and events section.
For further information, please contact:
| Kirby Hill, CFA Vice President, Strategy & Communications Canadian Western Bank Phone: (780) 441-3770 E-mail: [email protected] |
Matt Evans, CFA AVP, Investor Relations Canadian Western Bank Phone: (780) 969-8337 E-mail: [email protected] |